Banking and Financial News – 20 June 2014

Train fares hiked (NDTV Profit) –

• • From June 25, rail passenger fares will increase by 14.2 per cent and freight rates by 6.5 per cent.
• • The fare hikes come ahead of the Rail Budget 2014 to be presented by current Railway Minister Sadananda Gowda next month.
• • Currently, the Railways is facing severe financial crunch with subsidy on passenger fares touching Rs. 26,000 crore.

Sebi revises guidelines for alternative investment funds (Mint) - To usher in more transparency, the capital market regulator—Securities and Exchange Board of India (Sebi)—has revised certain guidelines for alternative investment funds, including stricter disclosure requirements. Alternative investment funds (AIFs) are basically funds established or incorporated in India for the purpose of pooling in capital from Indian and foreign investors for investing as per a pre-decided policy.

Sebi has asked all AIFs to disclose the “disciplinary history” of the fund, its sponsor, manager, directors, partners, promoters and associates.

BANKING TERMS

Alternative investment funds (AIFs) are basically funds established or incorporated in India for the purpose of pooling in capital from Indian and foreign investors for investing as per a pre-decided policy.

God’s love is not restricted to when you think you’ve performed well. He loves you even when you make mistakes and fail. ~ Anonymous

Courtesy : NDTV Profit , Mint